You see we had already been planning to sell our house and downsize to a rambler, but when the world lost all common sense and decided to let it be controlled by the minority we said enough was enough.
Real estate investment has always been the most popular means to become rich and wealthy. Lots of people like to hitch their wagon to the real estate either to make a fast buck through flipping or hold on it for a long period of time.
Making the first investment in the real estate could seem a little tough to some. Either they may not have the money to pay for the down payment or most importantly they might not be mentally prepared to face all the stress and responsibilities that being the owner of a commercial property brings.
A few weeks back I wrote an article on why to start investing in the real estate in your 20s. Since then, I have been thinking about pushing the envelope even further, how about motivating young students in the college to invest in the real estate!
Ask any successful real estate investor about the two most important things required to succeed in the field of real estate investing and, in all likelihood, their response will be, time and money.
Who doesn’t want to get rich? To achieve this elusive goal, you need to invest somewhere to reap rich harvest because to become a millionaire through your regular 9 to 5 job would take many years.
Venturing into uncharted territories and taking risks has been integral to entrepreneurship and/or financial freedom. People for ages have traversed seas and oceans for days, weeks and months to find new business opportunities, discovered virgin markets and reaped the riches of being a pioneer.
Investing in real estate, incredibly early in your career, could lay the foundation of a financially secure future. It is much easier to save when you are young, single, earning a good amount and do not have many expenses.
You saw a beautiful home, while you passed by a new neighbourhood, while driving to work, saw the For Sale sign, spared not even a minute, got in touch with phone number in the sign, discussed in detail with the owner/realtor on the other side and within few days, quickly prepared the best offer you can think of and submitted.
Being a real estate investor, you are consistently looking out and seeking to invest in multiple potentially lucrative properties to enhance your portfolio and make more money. But the profit margins may get thinned due to huge closing costs.